EU Pharma Sector Challenged as Biopharmaceutical Entrepreneurs Can’t Finance Growth in the EU
BioTechNow indicates that in 2013 only four European biotech companies went public whereas 23 IPOs can be attributed to the US market. In order to prevent Europe from risking a further loss of entrepreneurs and competitiveness, several stakeholders came together today in Brussels to take part in a high-level dialogue on financing in the biopharmaceutical market. EU officials from the European Investment Bank and the European Commission, as well as SME representatives and Venture Capital angels analysed current financing mechanisms and sought to identify solutions to overcome the so called ‘death-valley’ that many entrepreneurs are facing beyond the early stage and seed financing level.
Dr William Brooks, chair of the dialogue, commented: “Access to finance for emerging companies is an on-going problem. By revising policy tools and adjusting its current financing measures, the European Union can translate R&D innovation to its full potential, impacting both its economic future and its citizens’ health. This series of planned high-level debates, engaging industry stakeholders and funders with EU officials, will uncover novel ways to shape the role of the EU’s financing mechanisms, help early stage companies get their products to market and create a growing, sustainable European life science industry.”
“I am delighted to recognize the flagship collaborative research instruments like Horizon 2020 and Innovative Medicines Initiative, IMI2 is a promising shift in EU funding policy not only supporting research and applied research only but also towards funding research linked to innovation and delivery of innovative medicines, diagnostics and therapies. Aside public funding tools in the EU, it is critical that all finance community players participate in seeking solutions for sustainable European biopharmaceutical ecosystem.” stated Roberto Gradnik, EBE President.
It is now the time to take action if Europe wants to be once again the key player in driving growth and innovation forward and have a major role in providing biopharmaceutical start-up entrepreneurs with a competitive market in which to invest to develop new drugs on the global market.
The project, initiated by LOGOS Public Affairs and supported by the European Biopharmaceutical Enterprises (EBE), consists of a series of policy dialogues that seeks to improve current financing mechanisms for biotech start-ups in Europe to overcome the so-called death valley often occurring beyond the early stage and seed financing level. The aim is to bring together industry stakeholders, such as venture capital (VC) funds, SMEs, large pharmaceutical companies, and start-ups to identify solutions tackling the ever growing financing gap, notably in cooperation with the main EU financing bodies; the European Investment Bank (EIB) and the European Investment Fund (EIF) as well as European Commission.
Notes to editors:
In June 2014, EFPIA, the European Federation of Pharmaceutical Industries and Associations, launched a landmark paper outlining steps towards an integrated strategy for the life sciences sector in Europe. “Health & Growth – Working together for a healthy Europe” calls for a new generation of partnerships and collaborative solutions to address the EU’s growing health and competitiveness challenges. The paper lays out a strong case for placing the pharmaceutical industry at the heart of European economic reform and growth. It delivers concrete recommendations towards achieving healthier citizens and workforces, creating new jobs, and reaffirming Europe’s position as a global leader in research and development.
For more information visit: http://www.efpia.eu/topics/health-growth
LOGOS Public Affairs
Kathrin Ludwig, Project Manager, EPDG
Tel: + 32 2 740 22 32
European Biopharmaceutical Enterprises, EBE
Titta Rosvall-Puplett, Executive Director,
Tel: +32 472 55 94 87
About LOGOS Public Affairs
LOGOS is a Public Affairs, Association Management and Stakeholder dialogue company, part of the MCI Group family. The integration of LOGOS into MCI Group creates a unique mix of expertise to support European and International organisations in Brussels and in Europe with their Public Affairs, Association, Communications and Event Management needs.
With 56 offices in 29 countries, LOGOS Public Affairs and MCI are your one-stop solution to Public Affairs, Association, Communications and Event Management needs. We will create and implement an approach that fits your business development needs, assesses market opportunities and risks, and allows for collaboration with stakeholders. With over 120 talents, we take your challenges and turn them into solutions.
LOGOS Public Affairs is a member of the European Public Affairs Consultancies Association. We have signed the EPACA Code of Conduct.
Find out more about our team and service at www.logos-eu.com or follow us on Twitter: LOGOS_PA
European Biopharmaceutical Enterprises, EBE, is the European Trade Association representing the biopharmaceutical companies of all sizes. EBE is a specialised group of EFPIA, European Federation of Pharmaceutical Industries and Associations, and acts as Europe’s expert voice for emerging bioscience & technology and leading platform for health innovation ecosystems. EBE brings together 50 European biopharmaceutical companies and works together with multiple key stakeholders. More: www.ebe-biopharma.eu. Twitter: EBE_EU